Suryajyoti Life Insurance Adopts NCHL’s Digital Payment System for Seamless Transactions

Kathmandu – In a move toward greater digital efficiency, Suryajyoti Life Insurance Limited has signed an agreement with Nepal Clearing House Limited (NCHL) to integrate its payment processes with NCHL’s advanced digital infrastructure. With this collaboration, Suryajyoti Life will now be able to conduct a wide range of financial transactions digitally through the NCHL’s National Payment Interface (NPI).

The agreement was signed by Prakash Bikram Khatri, Chief Executive Officer of Suryajyoti Life Insurance, and Nilesh Man Singh Pradhan, Chief Executive Officer of NCHL. Following the signing, the internal systems of Suryajyoti Life will be directly connected to the NPI, enabling the use of various digital payment instruments.

Now after this integration, Suryajyoti Life can now perform direct deposits for insurance premium collections, agent commissions, employee salaries, vendor payments, government revenues, social security contributions, and Citizen Investment Trust payments. These transactions will be processed through NCHL’s Interbank Payment System (NCHL-IPS) and Real-Time Payment System (RPS). The company has also confirmed that additional digital services will be introduced in phases.

NPI is an open API-based integrated platform currently used by 53 banks and financial institutions. Over 110 non-banking institutions, including payment service providers (PSPs), payment system operators (PSOs), remittance companies, microfinance institutions, merchant banks, and various government and semi-government agencies, are already affiliated with the system.